Terms of trade and potential output in Argentina
Fil: Gay, Alejandro. Universidad Nacional de Córdoba. Facultad de Ciencias Económicas. Departamento de Economía y Finanzas; Argentina.
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| Format: | publishedVersion |
| Language: | eng |
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2020
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| Online Access: | http://hdl.handle.net/11086/16750 |
| _version_ | 1806011950315864064 |
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| author | Gay, Alejandro |
| author_facet | Gay, Alejandro |
| author_sort | Gay, Alejandro |
| collection | Repositorio Digital Universitario |
| description | Fil: Gay, Alejandro. Universidad Nacional de Córdoba. Facultad de Ciencias Económicas. Departamento de Economía y Finanzas; Argentina. |
| format | publishedVersion |
| id | rdu-unc.16750 |
| institution | Universidad Nacional de Cordoba |
| language | eng |
| publishDate | 2020 |
| record_format | dspace |
| spelling | rdu-unc.167502024-07-05T15:17:00Z Terms of trade and potential output in Argentina Gay, Alejandro Production function Potential output Terms of trade Cointegration Argentina publishedVersion Fil: Gay, Alejandro. Universidad Nacional de Córdoba. Facultad de Ciencias Económicas. Departamento de Economía y Finanzas; Argentina. This paper uses an equilibrium correction model to estimate Argentina´s potential output in the 1913-2011 period. The long-term equilibrium is represented by an aggregate Cobb-Douglas production function with three factors: capital, labor and land. Capital and labor inputs have been adjusted by quality; and the terms of trade have been exogenously introduced, as we assume they affect the quality of land. The estimated shares of capital, labor and land are 0.44, 0.46 and 0.10 respectively, and test do no reject the proposed hypothesis that the terms of trade coefficient equals the share of land. The output gap after Convertibility is analyzed and forecasts have been made about potential output growth. En el trabajo se utiliza un modelo de corrección al equilibrio para estimar el producto potencial de Argentina (1913-2011). El equilibrio de largo plazo está dado por una función de producción Cobb-Douglas con capital, trabajo y tierra. Los insumos capital y trabajo han sido ajustados por calidad, y se supone que los términos del intercambio afectan la calidad de la tierra. Se obtienen participaciones del 0.44, 0.46 y 0.10 para el capital, el trabajo y la tierra. No se rechaza la hipótesis de igualdad del coeficiente de la tierra y de los términos del intercambio. Finalmente, se realizan pronósticos sobre el crecimiento del producto potencial y se estima la brecha del PIB. https://aaep.org.ar/anales/works/works2013/gay.pdf publishedVersion Fil: Gay, Alejandro. Universidad Nacional de Córdoba. Facultad de Ciencias Económicas. Departamento de Economía y Finanzas; Argentina. Economía, Econometría 2020-11-09T23:16:08Z 2020-11-09T23:16:08Z 2013-11 article 1852-0022 http://hdl.handle.net/11086/16750 eng Attribution-NonCommercial-ShareAlike 4.0 International http://creativecommons.org/licenses/by-nc-sa/4.0/ Electrónico y/o Digital |
| spellingShingle | Production function Potential output Terms of trade Cointegration Argentina Gay, Alejandro Terms of trade and potential output in Argentina |
| title | Terms of trade and potential output in Argentina |
| title_full | Terms of trade and potential output in Argentina |
| title_fullStr | Terms of trade and potential output in Argentina |
| title_full_unstemmed | Terms of trade and potential output in Argentina |
| title_short | Terms of trade and potential output in Argentina |
| title_sort | terms of trade and potential output in argentina |
| topic | Production function Potential output Terms of trade Cointegration Argentina |
| url | http://hdl.handle.net/11086/16750 |
| work_keys_str_mv | AT gayalejandro termsoftradeandpotentialoutputinargentina |